Pension Funds

State Bank of India chairman C S Setty on Wednesday called for active participation by mutual funds and pension funds in the corporate bond market. "I am sure that a lot of corporates would like to issue bonds. I believe that if household/corporate savings are finding ways into these three investment categories, it is important that insurance and mutual funds also actively participate in the corporate bond market. I don't see that kind of participation actively coming in," Setty said. He said the pension/ mutual funds are making investments in AAA-rated bonds and this is not going to help deepen the corporate bond market. Setty said the corporate bond market has to come into financing of infrastructure as well as balance sheet funding of corporates. He said the investments are happening not only in equity but also in mutual funds, pension funds and insurance funds. "We have been debating on depth of the corporate bond market for many years. We could not achieve that depth," Setty

The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is entitled to a consolidated salary of Rs 5.62 lakh per month without the facility of house and car, the finance ministry said while inviting applications for the post. As per the eligibility criteria mentioned in the public notice issued by the Department of Financial Services, the applicant should have a minimum of two years of residual service as of the last date of submission of applications. Applicants should be a government servant and have worked as Secretary/Additional Secretary in the Government of India or its equivalent level in a State Government for at least three years, it said. A public sector official, and has worked at least at one level immediately below the board level for at least three years or an ..

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The Congress on Friday slammed the government over the reported surge in rejection rates of Employees Provident Fund final settlement and claimed the defining feature of the "anyay kaal" of last 10 years has been that no community could to get their full due. Congress general secretary in-charge communications Jairam Ramesh shared a media report on X which claimed the rejection rates of EPF final settlement have been surging, up from around 13 per cent in 2017-18 to nearly 34 per cent in 2022-23. "The defining feature of the 'Anyay-kaal' of the last 10 years has been that no community is able to get its full due: Women are left out of the job market, the youth are unable to seek employment and the farmers are unable to get adequate prices," he alleged. "Even the 'shramik', the worker who earns his living through wages, is unable to access his/her own earnings. The EPFO, the government-run organization that administers the Provident Fund for India's workers, has seen a sharp rise in

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Rajasthan Chief Minister Bhajanlal Sharma on Tuesday announced an increase in social security pension for widows and elderly and bonus to farmers on minimum support price for wheat crop. Replying to a debate on the motion of thanks to the governor's speech in the state assembly, he also targeted the previous Congress government over various issues, including law and order and recruitment exam paper leaks, and said the BJP government will fulfil all its poll promises and establish the rule of law in the state. The chief minister said that a decision has been taken to increase the amount under PM Kisan Samman Nidhi in the state from Rs 6,000 to Rs 8,000 annually in the first phase. This will put an additional financial burden of Rs 1,300 crore on the state. Sharma said the BJP had promised to give a bonus on the MSP for wheat. In the first phase, a bonus of Rs 125 will be given on wheat, after which its MSP in the state will be increased from Rs 2,275 to Rs 2,400. This will put an ...

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Policybazaar table lists pension offers of various financial companies